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Temple financials on the stadium
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Philly Brian Offline
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Temple financials on the stadium
I didn't see it discussed here but Temple's CFO did a presentation to the faculty on the financials involved with the stadiums.

I will just list some highlights.

Essentially it is a classic "rent vs buy" situation.

Temple's lease at the Linc (NFL stadium) runs out after 2017.

Temple has proposed and is pushing for a $126 mil campus stadium that will also feature a retail store section.

Temple owns the land and already has identified financing for the project.

The NFL team wants to increase the rent from $1 mil to $3 mil per year with a 30 year lease. (That's 90 million to the NFL team plus a $12 mil stadium improvement fee due at the start of the lease.)

Just as troubling are the game day expenses which have increased from $195k in 2003 to $1.7 million. A nine-fold increase. In the future the rate of increase can be expected to be 17% a year..

Campus game day expenses would be $875k with a 5% increase per year.

So total stadium cost for Temple in 2003 came in at $1.2 mil. In 2017 it will be $2.7 mil. If we stay at the NFL stadium in 2018 with the new lease, $5 million.

If Temple moved into their own campus stadium in 2018, they would save $21 mil by 2024 even if the attendance stays the same. Temple only gets 10% of the concessions at the NFL stadium and no parking money.

At the end of the presentation the faculty just sat speechless. The financial reality of the situation had turned them all around.

In my opinion, if we (Temple) don't get the campus stadium, the football program may be doomed. We would be stuck in an NFL stadium that's too big, too far from campus that comes with NFL sized expenses.
05-20-2016 09:27 PM
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Westhoff123 Offline
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Temple financials on the stadium
Dang, well here is to a future ocs.
05-20-2016 09:37 PM
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blazer-J Offline
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Post: #3
RE: Temple financials on the stadium
(05-20-2016 09:27 PM)Philly Brian Wrote:  I didn't see it discussed here but Temple's CFO did a presentation to the faculty on the financials involved with the stadiums.

I will just list some highlights.

Essentially it is a classic "rent vs buy" situation.

Temple's lease at the Linc (NFL stadium) runs out after 2017.

Temple has proposed and is pushing for a $126 mil campus stadium that will also feature a retail store section.

Temple owns the land and already has identified financing for the project.

The NFL team wants to increase the rent from $1 mil to $3 mil per year with a 30 year lease. (That's 90 million to the NFL team plus a $12 mil stadium improvement fee due at the start of the lease.)

Just as troubling are the game day expenses which have increased from $195k in 2003 to $1.7 million. A nine-fold increase. In the future the rate of increase can be expected to be 17% a year..

Campus game day expenses would be $875k with a 5% increase per year.

So total stadium cost for Temple in 2003 came in at $1.2 mil. In 2017 it will be $2.7 mil. If we stay at the NFL stadium in 2018 with the new lease, $5 million.

If Temple moved into their own campus stadium in 2018, they would save $21 mil by 2024 even if the attendance stays the same. Temple only gets 10% of the concessions at the NFL stadium and no parking money.

At the end of the presentation the faculty just sat speechless. The financial reality of the situation had turned them all around.

In my opinion, if we (Temple) don't get the campus stadium, the football program may be doomed. We would be stuck in an NFL stadium that's too big, too far from campus that comes with NFL sized expenses.

Man that sounds like a no-brainer. When will the final decision be made?
05-20-2016 09:37 PM
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Bearcats#1 Offline
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RE: Temple financials on the stadium
Maybe UC will schedule a 1 and 1 with Temple once we are in the B12.
05-20-2016 10:02 PM
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muffinman Offline
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RE: Temple financials on the stadium
So what happens while the stadium is being built? Short term extension (for 2018) at the Eagles stadium?

Even if its approved tomorrow, I dont see how it could be done and ready to go by the 2018 season.
05-20-2016 10:44 PM
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Philly Brian Offline
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RE: Temple financials on the stadium
It's not a done deal yet. The Trustees have only authorized an architectural firm to do a study on what the stadium would look like and a study on traffic, parking, etc.

The presentation that I mentioned above was to a skeptical anti-stadium faculty. Before the presentation most were of the mindset that the money would be better spent on academics.

The mayor initially came out against the stadium. He is now neutral. The local city councilman so far is against the stadium. He is open to convincing though.
There is a small but vocal community group against the stadium. It's going to take a lot to wear them down.

There is no doubt a good deal of people against the stadium based on misinformation. I would guess maybe 20% of students and alumni are against it.

Misinformation? Things such as Temple is stealing land from locals, tuition will pay for the stadium, taxpayers are paying for the stadium. Also my favorite "we can shame the Eagles into giving Temple the stadium for free!".
Probably about 20% of the football supporters are against it based on the size of the stadium being only 35k. It's too small for us because we are getting an invite to the Big Ten they say. LOL ...
05-20-2016 11:11 PM
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Philly Brian Offline
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RE: Temple financials on the stadium
There are lots of things going on behind the scenes. If Temple can get the approval by September, groundbreaking would take place in Jan 2017. The stadium would be ready in the Fall 2018.
18 months is the fastest that it can be built.

The approval would have to come from the Temple trustees and city officials.

City officials can deny zoning approval ... There is a very real possibility that city officials will hold the project up for a year or two. That's how it goes in the big city...

Temple already has an optional two year lease extension with the Eagles if needed. This would take the lease to 2020.
(This post was last modified: 05-20-2016 11:19 PM by Philly Brian.)
05-20-2016 11:17 PM
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fishpro1098 Offline
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Post: #8
RE: Temple financials on the stadium
FWIIW Not sure all the financial facts abot rent and operating costs in the OP are accurate.

.
05-21-2016 12:29 AM
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NYCTUFan Offline
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Post: #9
RE: Temple financials on the stadium
(05-20-2016 10:44 PM)muffinman Wrote:  So what happens while the stadium is being built? Short term extension (for 2018) at the Eagles stadium?

Even if its approved tomorrow, I dont see how it could be done and ready to go by the 2018 season.

I believe Temple recently signed a provision on their current lease that when it expires they can rent the Linc on a year to year basis (at a premium of course) for a couple of years. I’m not 100% certain but I believe I remember seeing that written.
05-21-2016 10:35 AM
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Bear Offline
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Post: #10
RE: Temple financials on the stadium
An OCS would be a great move for Temple
05-21-2016 10:59 AM
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BigHouston Offline
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Post: #11
RE: Temple financials on the stadium
Anyone can see The University Of Temple will be under so much financial stress if they remain at the Lincoln. If the faculty really cared for the future and stability of their university, they will vote for it immediately rather than dick around by searching a 5th leg on a cat that only has 4.
05-21-2016 12:16 PM
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malenko2 Offline
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RE: Temple financials on the stadium
(05-21-2016 12:29 AM)fishpro1098 Wrote:  FWIIW Not sure all the financial facts abot rent and operating costs in the OP are accurate.

.

Philly Brian is the temple equivalent of rutgersal who was mentioned on this board recently. Facts and opinions tend to get mixed up very easily is his posts.
05-21-2016 12:58 PM
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JHG722 Offline
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RE: Temple financials on the stadium
(05-21-2016 12:16 PM)BigHouston Wrote:  Anyone can see The University Of Temple will be under so much financial stress if they remain at the Lincoln. If the faculty really cared for the future and stability of their university, they will vote for it immediately rather than dick around by searching a 5th leg on a cat that only has 4.

The real UT.
05-21-2016 01:32 PM
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mascotswinchampionships Offline
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RE: Temple financials on the stadium
(05-21-2016 12:16 PM)BigHouston Wrote:  Anyone can see The University Of Temple will be under so much financial stress if they remain at the Lincoln. If the faculty really cared for the future and stability of their university, they will vote for it immediately rather than dick around by searching a 5th leg on a cat that only has 4.

Coming from a Houston College fan that means a lot. Thanks bro. 02-13-banana
(This post was last modified: 05-21-2016 03:38 PM by mascotswinchampionships.)
05-21-2016 03:37 PM
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Hood-rich Offline
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RE: Temple financials on the stadium
(05-21-2016 12:16 PM)BigHouston Wrote:  Anyone can see The University Of Temple

Lol. Really?

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05-21-2016 04:00 PM
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Steve1981 Offline
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RE: Temple financials on the stadium
(05-20-2016 11:17 PM)Philly Brian Wrote:  There are lots of things going on behind the scenes. If Temple can get the approval by September, groundbreaking would take place in Jan 2017. The stadium would be ready in the Fall 2018.
18 months is the fastest that it can be built.

The approval would have to come from the Temple trustees and city officials.

City officials can deny zoning approval ... There is a very real possibility that city officials will hold the project up for a year or two. That's how it goes in the big city...

Temple already has an optional two year lease extension with the Eagles if needed. This would take the lease to 2020.

Think you'll need at least one year of the extension as Jan 2017 with everything posted from zoning, residents, politics, etc. Sure the construction unions will be for it and thought those guys have a voice. Sounds very encouraging and will cheer when it's official.
05-21-2016 04:53 PM
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Chappy Offline
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RE: Temple financials on the stadium
It's a crime that the Eagles can charge a public school whatever they choose to use a stadium that was only half paid for by the Eagles.
05-21-2016 05:46 PM
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oliveandblue Offline
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RE: Temple financials on the stadium
(05-21-2016 05:46 PM)Chappy Wrote:  It's a crime that the Eagles can charge a public school whatever they choose to use a stadium that was only half paid for by the Eagles.

The irony is rich.

I hope Temple wins their battle against the NIMBYs. They've built a likable program.
05-21-2016 05:49 PM
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GhentFan Offline
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RE: Temple financials on the stadium
(05-20-2016 11:11 PM)Philly Brian Wrote:  It's not a done deal yet. The Trustees have only authorized an architectural firm to do a study on what the stadium would look like and a study on traffic, parking, etc.

The presentation that I mentioned above was to a skeptical anti-stadium faculty. Before the presentation most were of the mindset that the money would be better spent on academics.

The mayor initially came out against the stadium. He is now neutral. The local city councilman so far is against the stadium. He is open to convincing though.
There is a small but vocal community group against the stadium. It's going to take a lot to wear them down.

There is no doubt a good deal of people against the stadium based on misinformation. I would guess maybe 20% of students and alumni are against it.

Misinformation? Things such as Temple is stealing land from locals, tuition will pay for the stadium, taxpayers are paying for the stadium. Also my favorite "we can shame the Eagles into giving Temple the stadium for free!".
Probably about 20% of the football supporters are against it based on the size of the stadium being only 35k. It's too small for us because we are getting an invite to the Big Ten they say. LOL ...

This sounds familiar to ODU's stadium
05-21-2016 07:00 PM
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BigHouston Offline
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RE: Temple financials on the stadium
(05-21-2016 04:00 PM)Hood-rich Wrote:  
(05-21-2016 12:16 PM)BigHouston Wrote:  Anyone can see The University Of Temple

Lol. Really?

Sent from my VS980 4G using Tapatalk

Ok, Temple... Happy now?!? lol
05-21-2016 07:02 PM
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